07:28 26 December 2013
Many people look at a portable mortgage and think that it might be a good idea. Unfortunately, it might not be as portable as you might think. Portable products mean that you have the ability to move your mortgage when you move locations. There are a few conditions however, and most people do not realise that by picking this particular product might not be as great as it sounds.
These are just two of the potential issues that may come up when you are attempting to port a mortgage. Each lending institution has their own set of criteria. It is important if you are going to choose this type of lending option for your home that you know what the criteria for your institution is and that you are reasonably sure you will continue to meet this criteria for the life of your mortgage.
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